Wednesday, November 9, 2011

DailyMarkets.com - Earnings Scorecard: C.R. Bard

DailyMarkets.com - Earnings Scorecard: C.R. Bard


Earnings Scorecard: C.R. Bard

Posted: 09 Nov 2011 10:20 AM PST

Leading medical devices maker C.R. Bard's (NYSE:BCR) third-quarter 2011 adjusted earnings per share of $1.62 topped the Zacks Consensus Estimate of $1.60 and exceeded the year-ago earnings of $1.43. Profit (as reported) for the quarter rose 2% year over year to $130.1 million (or $1.46 a share) on higher revenues.
Third Quarter Revisited
Revenues rose 6% year over year to $719.2 million, but missed the Zacks Consensus Estimate of $724 million. Sales were boosted by growth across the board with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Conmed Retained At Neutral

Posted: 09 Nov 2011 10:05 AM PST

We reiterate our Neutral recommendation on medical technology company Conmed Corporation (NASDAQ:CNMD) following its mixed third-quarter 2011 results. Its adjusted earnings of 33 cents beat the Zacks Consensus Estimate by a couple of cents. Profit dipped 6% year over year, hurt by restructuring costs.
Revenues rose just 0.3% year over year to roughly $173 million, missing the Zacks Consensus Estimate. Sales grew modestly as gain in the disposable business was offset by lower capital equipment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Andersons EPS Beats, Sales Misses

Posted: 09 Nov 2011 09:50 AM PST

The Andersons Inc. (NASDAQ:ANDE) reported third quarter EPS of 59 cents, a substantial improvement over the 8 cents reported in the year-ago quarter and way ahead of the Zacks Consensus Estimate of 17 cents. The outperformance was led by the Grain & Ethanol and Plant Nutrient Groups.
Total revenue in the quarter was $938.7 million, up 33% from $706.8 million in the prior-year quarter, missing the Zacks Consensus Estimate of $1 billion. The year-over-year improvement was primarily driven by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


AmEx Sets Up Digital Commerce Fund

Posted: 09 Nov 2011 09:50 AM PST

Yesterday, American Express Company (NYSE:AXP) (AmEx) announced the creation of a $100 million investment fund in order to expand the company's presence in the digital commerce market.
Accordingly, the company will acquire minority stakes in various start-ups and form partnerships with various companies, particularly those involved in mobile and online payment management, data analysis, loyalty and rewards, security and fraud detection, personalized offers, location-based and fees-based … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Amylin, Lilly Part Ways

Posted: 09 Nov 2011 09:35 AM PST

Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) and Eli Lilly and Company (NYSE:LLY) recently decided to terminate their long-standing partnership for the worldwide development and commercialization of exenatide. The news sent Amylin's shares tumbling almost 11%.
Amylin and Eli Lilly's partnership dates back to 2002 when the companies entered into a global development and commercialization agreement for exenatide. Exenatide is currently available under the trade name, Byetta. It has also been developed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Mixed Air Traffic For October

Posted: 09 Nov 2011 09:35 AM PST

Air traffic remained mixed in October, like the month before. Airline traffic is measured in billions of revenue passenger miles (RPM), which implies one mile flown by one passenger.
The consolidated October traffic fell 5.1% at the largest U.S. airline United Continental Holdings Inc. (UAL). Both international and domestic traffic slid 4.4% and 6.3%, respectively. Capacity (or available seat miles) decreased 3.4% year over year and load factor (percentage of seats filled with passengers) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Consolidating/correcting Intraday But Buyers Need To Prove Their Bias

Posted: 09 Nov 2011 09:33 AM PST

The EURUSD has trended to the downside today and moved below the month low price at the 1.3607 level (from November 1st). The price is consolidating/correcting now rebounding off the low at  1.35518. The corrective move higher, however, and stalled at the 1.3607 level.  In order for the market to move higher, buyers off the lows must take the price above this level. Failure to do so will keep the bears in charge and likely lead to more selling interest.
Looking at the 5 minute chart, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Dean Foods Surpasses Estimate

Posted: 09 Nov 2011 09:26 AM PST

Dean Foods Company’s (NYSE:DF) adjusted earnings of 18 cents per share for the third quarter of fiscal 2011 was well above the earnings of 13 cents recorded in the year-ago quarter. The quarterly earnings also surpassed the Zacks Consensus Estimate of 15 cents a share.
However, on a reported basis, including one-time items, the company registered a loss of $8.39 per share.
Quarterly Discussion
Dean Foods' quarterly net sales grew 11.7% year over year to $3,410.8 million, beating the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Netflix Partners MGM

Posted: 09 Nov 2011 09:21 AM PST

Netflix Inc. (NFLX) recently signed a new multi-year licensing agreement with Hollywood studio Metro-Goldwyn-Mayer Studios Inc (MGM). Under the terms of the agreement, Netflix will obtain the license to exclusively stream movies produced by MGM in the United Kingdom and Ireland.
Earlier, Netflix had announced its intentions to enter the United Kingdom and Ireland by early 2012. Netflix subscribers in these regions will be able to watch popular MGM movies, such as "The Hobbit: An Unexpected … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Polo Ralph Lauren Beats, Raises

Posted: 09 Nov 2011 09:12 AM PST

Polo Ralph Lauren Corp.’s (NYSE:RL) fiscal 2012 second-quarter earnings surged 17.7% to $2.46 per share from $2.09 in the year-ago period, primarily driven by strong growth in net revenues. Quarterly earnings also surpassed the Zacks Consensus Estimate of $2.24 per share.
Quarterly Details
During the quarter, Polo Ralph Lauren’s net revenues climbed 24.0% to $1,856.8 million, outpacing the Zacks Consensus Estimate of $1,836.0 million. The growth was primarily driven by an increase of 20.0% in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Mama Mia! Italian Debt Crisis Continues

Posted: 09 Nov 2011 09:01 AM PST

The market’s lack of confidence in the Italian government is pushing the country to the edge. Rising funding costs threaten to shutdown the country’s access to the bond market, a scenario for which neither Italy nor the Euro-zone is ready. Given the country’s enormous funding needs relative to the size of the Euro-zone rescue fund, this turn of events poses a serious challenge to the two-week-old European plan to come to grips with the long-festering sovereign debt crisis.

Italian government … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


BRE Properties Reports In Line

Posted: 09 Nov 2011 09:01 AM PST

BRE Properties Inc (BRE) reported third quarter 2011 funds from operations (FFO) of $41.5 million or 55 cents per share versus $30.6 million or 47 cents per share in the year-earlier quarter.
Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. FFO per share in the quarter was in line with the Zacks Consensus Estimate.
Total revenue from continuing operations during the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


UDR In Sync With Estimates

Posted: 09 Nov 2011 09:01 AM PST

UDR, Inc. (NYSE:UDR), a leading multi-family real estate investment trust (REIT), reported third quarter 2011 FFO (funds from operations) of $73.0 million or 32 cents per share compared with $46.9 million or 27 cents in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
The reported FFO per share was in line with the Zacks Consensus Estimate. Total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Einstein Noah Continues To Trail

Posted: 09 Nov 2011 09:01 AM PST

Einstein Noah Restaurant Group Inc. (NASDAQ:BAGL) has recently reported third quarter 2011 adjusted earnings of 17 cents per share, which missed the Zacks Consensus Estimate by 2 cents and deteriorated from 21 cents earned a year ago. Lower-than-expected results were due to soft same-store sales and commodity cost inflation.
Total revenue inched up 2.1% year over year to $103.5 million. The uptick reflects strong growth in check, a favorable mix shift and improved catering sales, which were offset … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


IGT Beats On Strong Sales

Posted: 09 Nov 2011 09:01 AM PST

International Game Technology (NYSE:IGT) reported fourth quarter 2011 earnings of 24 cents per share, beating the Zacks Consensus Estimate by a penny. Earnings per share (EPS) increased 41.2% from 17 cents reported in the year-ago quarter.
The better-than-expected result was driven by strong revenue growth and lower operating expenses in the quarter.
Operational Performance
Non-GAAP gross profit was $297.8 million, up 11.5% year over year. However, gross margin decreased 110 basis points (bps) to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Red Robin Reports Strong

Posted: 09 Nov 2011 09:01 AM PST

Casual dining restaurant operator Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reported adjusted earnings of 24 cents per share in the third quarter of 2011, surpassing the Zacks Consensus Estimate of 22 cents and the year-ago quarter’ earnings of 8 cents.
However, including asset impairment and executive transition costs, GAAP net income in the reported quarter came in at $2.1 million or 14 cents per share. Results benefited from the upside in revenue arising from comparable sales growth and margin … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


BioScrip Beats, Margins Weak

Posted: 09 Nov 2011 09:01 AM PST

Specialty pharmacy services provider, BioScrip Inc. (NASDAQ:BIOS) reported EPS of 1 cent in the third quarter of fiscal 2011, down 75% year over year. However, after deducting the impact of restructuring charges, severance and other employee costs, adjusted EPS came in at 10 cents during the quarter, surpassing the Zacks Consensus Estimate of 9 cents.
BioScrip primarily operates through two segments – Infusion and Home Health Services and Pharmacy Services. Total revenue in the quarter stood at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


LUK’s 3Q Plunges, Misses Estimate

Posted: 09 Nov 2011 09:01 AM PST

Leucadia National Corporation (NYSE:LUK) reported its financial results for the third quarter on November 8. Results were weak compared with the year-earlier quarter with the company reporting a net loss from continuing operations of $291.7 million, or $1.19 per share. This compares with a net income of $263.2 million, or $1.07 per share in the third quarter of 2010 as well as the Zacks Consensus Estimate of 70 cents.
Revenue
In the third quarter 2011, revenue jumped 27.0% year over year to $236.1 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Preview: Kohl’s

Posted: 09 Nov 2011 09:01 AM PST

Kohl's Corp. (NYSE:KSS) is scheduled to announce its third quarter 2011 results on November 10, 2011, and we see limited revisions in analyst estimates at this point. Currently, the Zacks Consensus Estimates for earnings and sales are 78 cents per share and around $4,390 million, respectively.
Second Quarter Overview
Kohl’s reported better-than-expected results for the second quarter of 2011 back on August 11. Earnings per share came in at $1.09 per share, a penny above the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earning Scorecard: Union Pacific

Posted: 09 Nov 2011 09:01 AM PST

Union Pacific Corporation (NYSE:UNP) reported strong third quarter 2011 financial results with both revenue and earnings per share (EPS) exceeding the Zacks Consensus Estimate.
Third Quarter Highlights
Quarterly net income stood at a historic high of $904 million or $1.85 per share compared with a net income of $778 million or $1.56 per share in the year-ago quarter. Third quarter 2011 EPS of $1.85 easily surpassed the Zacks Consensus Estimate of $1.81.
Total operating revenue in the third quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


SINA Reports Mixed 3Q

Posted: 09 Nov 2011 09:01 AM PST

SINA Corp. (SINA) reported third quarter 2011 earnings of 19 cents per share, which were ahead of the Zacks Consensus Estimate by 3 cents. However, earnings per share decreased a whopping 58.7% year over year primarily due to margin contraction. Reported earnings exclude one-time items but include stock-based compensation charges.
Operating Performance
Gross profit on a non-GAAP basis increased 14.4% year over year to $68.4 million in the quarter. Gross margin declined to 54.5% in the quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


SurModics Beats Estimates

Posted: 09 Nov 2011 09:01 AM PST

SurModics Inc.'s (SRDX) fourth quarter fiscal 2011 earnings (excluding special items) of 6 cents per share edged past the Zacks Consensus Estimate by a penny. The company suffered an adjusted loss of 5 cents per share a year-ago quarter. The impressive performance in the final quarter of fiscal 2011 (ended September 30, 2011) was primarily attributable to higher revenues.
Quarter in Details
Adjusted revenues climbed 10.3% year over year to $17.1 million in the reported quarter, beating the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Wall Street, Italian Bonds Sell Off

Posted: 09 Nov 2011 08:05 AM PST

11/09/11 The major US stock averages slid sharply at the open, on jitters over Italy. Yields for Italian 10-year bonds spiked above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Trims Losses After U.S. Supply Data, Italy Weighs

Posted: 09 Nov 2011 07:55 AM PST

Forexpros – Crude oil futures trimmed sharp losses on Wednesday, after a government report showed that U.S. crude supplies fell unexpectedly last week, while markets continued to eye development surrounding Italy's debt crisis.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD96.14 a barrel during U.S. morning trade, falling 0.7%.

It earlier fell by as much as 2.2% to trade at USD94.57 a barrel, the lowest price since November 7.

Crude … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Extends Gains As Italy Woes Punish Euro

Posted: 09 Nov 2011 07:48 AM PST

Forexpros – The U.S. dollar added to steep gains against most of its major counterparts on Wednesday, as concerns over the debt crisis in the euro zone deepened after Italian borrowing costs climbed to near unsustainable levels.

During U.S. morning trade, the dollar was sharply higher against the euro, with EUR/USD tumbling 1.87% to hit 1.3577.

The euro fell sharply after the yield on two-year and 10-year Italian government bonds climbed above the 7% threshold which prompted Greece, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Falls More Than 1% On Italy Concerns

Posted: 09 Nov 2011 07:40 AM PST

Forexpros – The pound was down more than 1% against the U.S. dollar on Wednesday, as concerns over the debt crisis in the euro zone intensified after Italian borrowing costs rose above 7%, a level seen widely as unsustainable.

GBP/USD hit 1.5911 during U.S. morning trade, the pair's lowest since November 3; the pair subsequently consolidated at 1.5931, falling 1.01%.

Cable was likely to find support at 1.5979, the low of November 4 and short-term resistance at 1.6129, Tuesday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Natural Gas Futures Slump On Mild Weather Forecasts

Posted: 09 Nov 2011 07:37 AM PST

Forexpros – Natural gas futures fell sharply on Wednesday, giving back some of the previous day's gains as mild weather forecast across major gas-consuming regions in the U.S. was expected to limit demand for the heating fuel.

On the New York Mercantile Exchange, natural gas futures for December delivery traded at USD3.684 per million British thermal units during U.S. morning trade, dropping 1.62%.

It earlier fell by as much as 1.7% to trade at a daily low of USD3.683 per million British … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Extends Losses, Tumbles To 1-month Low

Posted: 09 Nov 2011 07:28 AM PST

Forexpros – The euro extended losses against the U.S. dollar on Wednesday, falling to a one-month low after Italian borrowing costs rose to near unsustainable levels, sparking fears that the country will need to seek international financial assistance.

EUR/USD hit 1.3555 during U.S. morning trade, the pair's lowest since October 10; the pair subsequently consolidated at 1.3562, plunging 1.95%.

The pair was likely to find support at 1.3377, the low of October 10 and resistance at 1.3697, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Stocks Tumble As Italy Fears Weigh; Dow Drops 2.25%

Posted: 09 Nov 2011 07:13 AM PST

Forexpros – U.S. stock markets tumbled after the open on Wednesday, as investors moved out of riskier assets after a sharp spike in Italian borrowing costs fuelled concerns that the euro zone's debt crisis is worsening.

During early U.S. trade, the Dow Jones Industrial Average tumbled 2.25%, the S&P 500 index plunged 2.35%, while the Nasdaq Composite index sank 2.2%.

Concerns over Italy's debt woes intensified after the yield on Italian 10-year government bonds soared to a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CAD Rallies To 3-week High As Risk Appetite Crumbles

Posted: 09 Nov 2011 06:38 AM PST

Forexpros – The U.S. dollar rallied to a three- week high against its Canadian counterpart on Wednesday, as concerns that Italian borrowing costs have risen to unsustainable levels bolstered demand for the safe haven greenback.

USD/CAD hit 1.0231 during early U.S. trade, the pair's highest since October 20; the pair subsequently consolidated at 1.0190, jumping 1.02%.

The pair was likely to find support at 1.0077, the days low and resistance at 1.0263, the high of October 20.

The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Is Europe Running Out Of Options? Euro Falls Even After Berlusconi Resigns

Posted: 09 Nov 2011 06:25 AM PST

Fundamental Headlines
• Iran Nuclear Report Prompts Call for Sanctions – Bloomberg
• Berlusconi Resignation Fails to Convince Markets – Reuters
• German "Wise Men" Warn ECB is Risking Credibility – Reuters
• Uncertainty in Greek Succession – WSJ
• Exit from Italian Debt Spurs Fears – WSJ
European Session Summary
The resignation of Italian Prime Minister Silvio Berlusconi was supposed to be a pivot point in the Euro-zone debt crisis: unlike Greek leaders who have been … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Steadies Near Six-week High As Italy Fears Mount

Posted: 09 Nov 2011 06:22 AM PST

Forexpros – Gold futures were largely unchanged on Wednesday, hovering close to the psychologically-important level of USD1,800-an-ounce as fears over Italy's debt crisis intensified after Italian bond yields soared above the critical 7% threshold.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,797.85 a troy ounce during early U.S. morning trade, easing down 0.08%.

The December contract traded between a range of USD1,779.25 an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Italy And Greece Hold Down Equities

Posted: 09 Nov 2011 01:15 AM PST

11/09/11 NYFP’s Morning Market Report: European equities and US futures were heavy in the red this morning as eurozone debt crisis concerns linger as Greece enters a third day of talks while Italian yields continue to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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